Would NFT be money?
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The most discussed and most curious part is whether NFTs can be money. At a stage where the coin market is facing a downturn like these days, you may wonder if the attention due to temporary interest has had an impact. But the answer is 'It would be money'.
The prevailing opinion is that the NFT market is expected to become one of the pillars of the future industry with explosive growth. Acquisitions and mergers of technology-related companies are already underway in order to apply them to various industries at home and abroad, and large-scale investments are continuing in the NFT market such as companies, exchanges, and funds.
Cryptocurrency enthusiast Paris Hilton's 'Laser Eyes'. ⓒParis Hilton Twitter
Famous celebrities are also interested in NFTs and are actively engaging in investment and communication. Paris Hilton was welcomed by the blockchain industry by tweeting that she would issue NFTs on the Tron network, starting with the sponsorship of NFT digital artists. Michael Jordan invested in Dapper Labs' NFT 'Flow' and saw great potential in non-fungible token.
There are 3 ways to make money with NFTs. These include value investment, NFT product resale transactions, and monetization through individual issuance.
The easiest part to think of is purchasing NFT-related works or purchasing related coins on an exchange. NFT-related works can be a great investment method in the value investment sector due to their scarcity and uniqueness. In addition, since NFT-related coins can be easily purchased on exchanges, you can earn money by looking at the information and future possibilities of coin technology, buying them like stock trading, and then selling them when they go up.
The second is the NFT product resale transaction. The easiest example is a selling second-hand limited-edition sneakers. Selling curio, limited edition products based on NFT certification history increases product reliability and enables smooth transactions.
Finally, there is a way for individuals to directly issue and trade NFTs. Thinking that there will be people asking the question, ‘How do I publish?’, I am introducing an easily accessible service. Kakao’s blockchain technology subsidiary, Ground X, can directly issue NFTs through ‘Crafterspace’ based on its own blockchain platform, Klaytn. When you upload an image or video file, Klaytn-based non-fungible tokens are immediately issued. You can buy and sell right away at OpenSea, the world's largest NFT marketplace. However, keep in mind that you need to link it with Kaikas, a wallet for web browsers, in order to be able to trade.
